A question about rubles (Russian currency)?
I am reading a Russian novel from the late-1860’s to early-1870’s. I was wondering about the purchasing power of a ruble (or rouble) at that time. If one had 1,000 rubles in 1870, how would that equate now in 2011? Would it be like having $10,000? $100,000? I don’t expect anything to exact, an estimate would do nicely. I guess I am asking for an answer in dollars, but current day rubles will work as well.
Of course, the ruble has been devalued several times since then, so it’s hard to do an exact calculation, but here’s a way to approximate it.
A ruble at the time contained about 18 grams of silver, which was 3/4 the amount in a US dollar, so a ruble was worth about $.75. That would mean that 1000 rubles was about $750.
Taking inflation in the US into account, $750 in 1870 is equal to about $12,500 today
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